Foreclosure

[Mergles]

even though the mortgage company says i cannot pay a portion of my monthly mortgage payment, can i still do it and not end up in foreclosure? if the 2nd mortgage co. foreclosures, what affect will it have on my first mortgage?

 

[HomeGuru]

even though the mortgage company says i cannot pay a portion of my monthly mortgage payment, can i still do it and not end up in foreclosure?
A: the lender does not want to accept partial payments so they can excercise their foreclosure rights by not doing a workout with you.

if the 2nd mortgage co. foreclosures, what affect will it have on my first mortgage?
A: it does not matter if the first or second mortgage lender files forclosure because whatever lender files first, the other lender will just join in on the complaint and support the foreclosure action. If the second mortgage lender files first, the answer to the complaint buy the firs mortgage lender would state that this lender has first position andproceeds from the foreclosure sale would go to pay this lender first.